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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (1176)	12/13/2001 11:25:33 AM
From: ild	Respond to of 306849

United States: The Death of Refis? Richard Berner (New York) <<<Soaring home prices seem to have had all the earmarks of a bubble . . . In the superheated environment of the late 1990s, many home sales were concluded after a bidding war drove prices well above the asking quote. Many buyers bulldozed perfectly usable houses to build mansions on quarter-acre plots. As Yogi Berra would say, it looks like déjà vu all over again. Could home prices crash, threatening levered consumers, as occurred in California in the early 1990s? In my view, soaring stock market wealth and booming income from the exercise of stock options fueled local housing bubbles. Some are now deflating in key metro areas, such as San Francisco, so there is some risk to consumers from this incipient loss of wealth where wealth and employment have already taken a beating. >>> morganstanley.com